Dreamscape Networks cash advance approved to grow company

Company News

by Jessica Amir

Web hosting company, Dreamscape Networks (ASX:DN8) has had a $20 million three-year cash advance approved, which will enable it to grow in Australia and Singapore

The facility was approved by a major Australian bank and will help the company make further cash flow positive and earnings accretive acquisitions.

The business says the cash advance will also allow it to make its balance sheet work harder for shareholders.

Dreamscape Networks says having successfully purchased and integrated Net Logistics (Sydney) and Vodien Group (Singapore) it’s in a strong position for further growth.

Shares in Dreamscape Networks (ASX:DN8) are trading 2.38 per cent higher at 21.5 cents.
 

Jessica Amir

Finance News Network
Jessica is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.